Connect with us

FACEBOOK

Facebook Inc (FB) COB and CEO Mark Zuckerberg Sold $10.4 million of Shares

Published

on

TipRanks

Analysts Say These 3 Dividend Stocks Are Top Picks for 2021

The market pendulum has been swinging from one extreme to the other recently, making a difficult environment for investors to track. The ups and downs of the fast-changing situation are the exact opposite of what investors want to see. What investors would most like to see, of course, are returns. And whether the markets are up or down, following the analysts’ ‘top picks’ makes a viable investment strategy. The Wall Street pros can do the footwork, and their published reports can inform our market decisions, acting as a set of guideposts for investors. We’ve opened up the TipRanks database to take a closer look at three of these ‘top picks.’ These are all names providing dividends, a sure-fire way to ensure a steady income no matter what direction the market is heading in. If that’s not enough, all three received enough support from Wall Street analysts to earn a “Strong Buy” consensus rating. Ellington Financial (EFC) We’ll start in the financial sector, where Ellington Financial inhabits the real estate investment trust niche. Ellington puts its energies into a wide range of real estate activities, including commercial and residential mortgage loans, equity investments, and mortgage-backed securities. The company uses a series of risk management tools to mitigate the natural risks of mortgage-backed securities, and ensure profits for investors. Ellington’s recent quarterly report, for 4Q20, showed the third consecutive increase in EPS, which was up 38% from Q3 to reach $1.44. For the full-year 2020, EPS came in at 39 cents per common share, down 15% yoy, on net income of $17.2 million. Like most REITs, Ellington pays out a regular dividend – and Ellington has been able to maintain regular dividend payments throughout the corona crisis year, despite a cut at the height of the panic. The most recent declaration, made in early February for a March 25 payout, was for 10 cents per common share, the same as the last three payments. The company pays out the dividend monthly, and has been increasing it gradually after last year’s cut. The current payment gives a yield of 7.5%. In his coverage of Ellington, Maxim analyst Michael Diana writes, “EFC’s equity is allocated 85% to credit assets, and almost all have done well. Of particular note are non-QM loans and reverse mortgage loans. Not only has demand for these credit classes been high, but EFC also has material equity stakes in the companies that originate these loans; thus, EFC profits twice. With smaller mortgage companies going out of business during the pandemic, competition has decreased, leading to favorable pricing.” At the bottom line, Diana says simply, “EFC remains our top pick under our mortgage REIT (mREIT) coverage.” To this end, Diana rates EFC a Buy and his $19 price target suggests a one-year upside of ~20%. (To watch Diana’s track record, click here) There is general agreement on Wall Street that EFC is a quality investment, and the analyst consensus rating shows that: it is a unanimous Strong Buy, based on 4 recent reviews. The shares are priced at $15.77, and their average target is $17.25, implying a 9% upside potential from current levels. (See EFC stock analysis on TipRanks) OneMain Holdings (OMF) Sticking with the financial sector, but in services rather that REITs, we’ll take a look at OneMain Holdings. This company’s subsidiaries offer a range of financial services, including consumer finance and insurance, to a customer base that normally gets neglected by the mainstream finance industry: retail customers who lack access – for whatever reason – to the regular banking and credit financing industry. The importance of this market segment should not be ignored, and OneMain showed that in fiscal year 2020 by bringing in $4.4 billion in total revenue. Closing out the 2020 calendar year, OneMain reported $1.23 billion in top line revenue for Q4 and $2.67 in earnings per share. While revenues were flat sequentially, EPS was up 43% from the previous quarter – and up 39% year-over-year. Like EFC, OneMain pays out a dividend – but unlike the REIT, OneMain uses a unique supplemental dividend policy. Each second and fourth quarter, the company pays out its minimum dividend per common share – but in the first and third quarters, it adds a one-time supplement to the payment. The minimum payment is currently set at 45 cents per common share; the last common share dividend paid, on February 25, was for $3.95. Analyst Michael Kaye, of Wells Fargo, is impressed with OneMain, and doesn’t hold back in his comments on the company: “We believe OMF is one of the best stories in consumer finance and that it is surprisingly still under the radar of many financial investors. OMF is a unique excess capital return story, in our view, and we expect $8.30 of dividends to be paid in 2021 which would equate to a 14.5% dividend yield. We also view the new credit card initiative positively as it should drive incremental growth, add value to their franchise, leverage their underwriting, distribution and servicing capabilities. OMF remains our top pick in our coverage.” Kaye rates OMF shares an Overweight (i.e. Buy) and his $65 price target implies an upside of 34% over the course of the next year. (To watch Kaye’s track record, click here) It’s not often that the analysts all agree on a stock, so when it does happen, take note. OMF’s Strong Buy consensus rating is based on a unanimous 10 Buys. The stock’s $63.60 average price target suggests a 31% upside from the current share price of $94. (See OMF stock analysis on TipRanks) Devon Energy (DVN) For the last ‘top pick’ stock we’re looking at here, we’ll switch over to the energy industry. Devon Energy, with a market cap of $15 billion, owns mineral rights – that is, the right to explore and drill – on 1.8 million acres in Texas and in adjacent areas of Oklahoma and New Mexico. This is one of North America’s most productive oil regions, and in recent years, the output here helped make the US a net exporter of fossil fuels. Devon also controls production areas in the mountain state of Wyoming. All told, Devon has over 10,000 wells in active use and an estimated 752 million ‘barrels of oil equivalent’ worth of proven reserves. In the fourth quarter of 2020, Devon showed a series of strong performance metrics. Production averaged 333,000 barrels of oil equivalent daily, boosted by a 7% quarter-over-quarter increase in crude oil output. Operations yielded a cash flow of $773 million for the quarter, of which $263 million was free cash flow. In conjunction with the earnings report, Devon announced a regular dividend payment of 11 cents per share, along with an additional variable dividend of 19 cents per share. Both are payable on March 31. Scotiabank’s Paul Cheng reiterates his decision to make Devon a top pick, writing, “We still see significant fundamental upside despite the YTD outperformance and the stock now trading at >4x its 2020 trough… We see little reason to expect that relevance, size, liquidity, etc concerns will prevent the stock from re-rating higher. As the company continues to deliver attractive fundamental results and execute on its shareholder-friendly strategy in the coming months and years, we expect DVN to outperform as the market gains further appreciation for the story and begins to more fully reflect these fundamentals in the share price.” Cheng’s Outperform (i.e. Buy) rating is supported by a $30 price target implying a 12-month upside potential of 31%. (To watch Cheng’s track record, click here) Overall, there are 19 recent stock reviews of Devon Energy, and they break down 17 to 2 in favor of Buys versus Holds, making the analyst consensus rating a clear Strong Buy. DVN is selling for $22.83 per share, and the average price target of $24.89 suggests ~9% upside from that level. (See DVN stock analysis at TipRanks) To find good ideas for dividend stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

See also  Mum sparks hilarious debate on Facebook over bizarre margarine technique

Read More

FACEBOOK

Facebook-Meta Earns the ‘Worst Company of 2021’ Title in This Survey

Published

on

By

facebook-meta-earns-the-‘worst-company-of-2021’-title-in-this-survey-–-news18
Facebook has had its share of controversies this year. The company was under more scrutiny after whistleblower Frances Haugen leaked a series of internal documents.

Facebook parent Meta has been named the Worst Company of the Year (2021) by Yahoo Finance respondents. According to the publication, an “open-ended” survey was published on Yahoo Finance on December 4 and 5, where 1,541 respondents participated. Facebook received 8 percent of the write-in vote, but respondents were seemingly mad about the Robinhood trading app as well. Electric truck startup Nikola, which was named last year’s worst company by the same publication also faced respondents ire.

Yahoo Finance notes, “Facebook has had its share of controversies this year.” Starting in January, Meta-owned WhatsApp got caught up in a huge controversy after the messaging app announced a new privacy policy (Terms of Service). WhatsApp said it would collect user information and share it with third-party apps for a better user experience. However, the app gave users no choice but later made modifications to the policy under pressure. Similarly, the company was under more scrutiny after whistleblower and former Facebook employee Frances Haugen leaked a series of internal documents showing the company’s problematic practices. It was revealed that Meta-owned Instagram had a negative impact on teenage girls, but the company did almost nothing to rectify the problem.

Yahoo Finance even highlights, “At the same time, some critics, including conservatives, say Facebook over-policed the platform’s speech and stifled their voices.” Critics also blame Facebook and other social media platforms for not curbing hate speech that led to Capitol Building riots.

See also  Facebook spent $23 million for CEO Mark Zuckerberg's security in 2020

However, around 30 percent of Yahoo Finance readers said that Facebook or Meta could redeem itself. One respondent suggested that the company could issue a formal apology for negligence and donate a sizable amount of its profits to a foundation to help reverse its harm.

On the other hand, respondents chose Microsoft as the Company of the Year (2021). The Satya Nadella-led company touched the trillion-mark this year and introduced notable upgrades. The most notable is the Windows 11 OS update that succeeds Windows 10.

Advertisement
free widgets for website
Continue Reading

FACEBOOK

Facebook pays 1.7 Cr fine to Russia after failing to delete content Moscow deems illegal

Published

on

By

facebook-pays-1.7-cr-fine-to-russia-after-failing-to-delete-content-moscow-deems-illegal

In the latest legal tussle with Russia over controversial social media regulation laws, Facebook paid 17 million roubles (Rs 1.7 Crore) for failing to remove content deemed illegal by Moscow. With a threat of potential larger fines looming, Facebook parent company Meta, owned by Mark Zuckerberg, is scheduled to face court next week over repeated violations of Russian legislation on content, Interfax News Agency reported. As per the latest updates, the social media giant could be fined a percentage of its annual revenue.

In October, Moscow sent state bailiffs to enforce the collection of 17 million roubles. Meanwhile, as per Interfax report citing a federal bailiffs’ database, on Sunday, there were more enforcement proceedings against the company. Apart from the popular social media app, Telegram has also paid 15 million roubles in fines for failing to comply with the Russian social media legislations that came into force in 2016.

Facebook pays $53k to Russia for refusing controversial social media laws

It is pertinent to mention that Facebook has locked horns with Moscow earlier in November, resulting in it paying 4 million roubles ($53,000) over its refusal to adhere to Russian data localisation laws, the Moscow Times reported. The Moscow court on November 25 had said that Facebook paid the fine levied in February, following which all proceedings against the US-based social media giant. The payment comes against the litigation filed against the company in 2018, alongside Twitter. The tech companies were also forced to pay an additional 3000 rubles ($40) for failing to comply with user data sharing rules as per the law. The Russian authorities have also previously blocked LinkedIn, owned by Microsoft, for failing to abide by the laws.

See also  Mum sparks hilarious debate on Facebook over bizarre margarine technique

Russian social media laws

As per Moscow Times, under the Russian social media regulation laws, all foreign technology companies are required to store data related to Russian customers and users on servers located in Russia. Additionally, the Russian tech companies will also have to share encryption data with the federal authorities as well as record user calls, messages and civil society group conversation records. The apparatus is said to be a severe breach of privacy rights and unfettered back-door access to personal data that could be used to harass Kremlin critics.

Continue Reading

FACEBOOK

Facebook Messenger Is Launching a Split Payments Feature for Users to Quickly Share Expenses

Published

on

By

Facebook Messenger Is Launching a Split Payments Feature for Users to Quickly Share Expenses

Meta has announced the arrival of a new Split Payments feature in Facebook Messenger. This feature, as the name suggests, will let you calculate and split expenses with others right from Facebook Messenger. This feature essentially looks to bring an easier method to share the cost of bills and expenses — for example, splitting a dinner bill with friends. Using this new Split Payment feature, Facebook Messenger users will be able to split bills evenly or modify the contribution for each individual, including their own.

The company took to its blog post to announce the new Split Payment feature in Facebook Messenger. 9to5Mac reports that this new bill splitting feature is still in beta and will be exclusive to US users at first. The rollout will begin early next week. As mentioned, it will help users share the cost of bills, expenses, and payments. This feature is especially useful for those who share an apartment and need to split the monthly rent and other expenses with their mates. It could also come handy at a group dinner with many people.

With Split Payments, users can add the number of people the expense needs to be divided with and, by default, the amount entered will be divided in equal parts. A user can also modify each person’s contribution including their own. To use Split Payments, click the Get Started button in a group chat or the Payments Hub in Messenger. Users can modify the contribution in the Split Payments option and send a notification to all the users who need to make payments. After entering a personalised message and confirming your Facebook Pay details, the request will be sent and viewable in the group chat thread.

See also  A French coronavirus conspiracy video stayed on YouTube and Facebook for months

Once someone has made the payment, you can mark their transaction as ‘completed’. The Split Payment feature will automatically take into account your share as well and calculate the amount owed accordingly.


For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel.

Advertisement
free widgets for website

Tasneem Akolawala is a Senior Reporter for Gadgets 360. Her reporting expertise encompasses smartphones, wearables, apps, social media, and the overall tech industry. She reports out of Mumbai, and also writes about the ups and downs in the Indian telecom sector. Tasneem can be reached on Twitter at @MuteRiot, and leads, tips, and releases can be sent to tasneema@ndtv.com.

Continue Reading

Trending